Vietnam’s government, under the leadership of Prime Minister Lê Minh Hưng, has doubled down on its pledge to achieve remarkable economic growth rates of over 10% annually from 2026 to 2030. This ambitious goal comes with a commitment to maintaining macroeconomic stability, keeping inflation in check, and ensuring the economy grows in a balanced manner. During a June meeting with government officials and a nationwide teleconference with local authorities, Prime Minister Lê Minh Hưng outlined the updated growth strategy and the policy roadmap designed to facilitate these targets.
In his address, the Prime Minister called on ministries and local governments to fully implement key national development resolutions. He urged swift legislative reforms and the transformation of central government policies into actionable plans, complete with specified responsibilities and deadlines. Regions with lagging economic performance were advised to overhaul their development strategies, while those with stronger economies were encouraged to exceed their growth targets. A significant focus was placed on speeding up public investment, particularly in areas such as transportation, energy, agriculture, worker housing, and infrastructure development in preparation for APEC 2027. Ministries and local governments with poor records in disbursing funds were warned about potential cuts in public investment allocations, with project effectiveness to be a critical metric in assessing officials’ performance.
The Vietnamese government is also placing a strong emphasis on innovation, science, technology, and digital transformation as key drivers of growth. Plans are underway to advance the nation’s digital infrastructure, integrate vital databases with the National Data Centre, and foster the development of strategic technologies, all aimed at supporting long-term economic restructuring. Efforts are also being directed towards enhancing education, healthcare, social welfare, national defense, and public communication, alongside reinforcing international cooperation and honoring global commitments.
In terms of economic performance, the first half of 2026 has been promising for Vietnam. The nation’s GDP expanded by 8.39% in the second quarter, resulting in a first-half growth rate of 8.18%, marking the fastest growth since 2011. Manufacturing, construction, and services sectors have been the primary engines of this growth, while the tourism industry achieved a milestone by attracting 12.25 million international visitors. Foreign direct investment has been robust, with $34.65 billion in registered capital in the first six months and disbursed investments reaching a five-year peak at $13.03 billion. Total trade surpassed $550 billion, and there was notable growth in state budget revenue and overall investment.
Despite these positive trends, the government acknowledged several persistent challenges, including uneven regional growth, sluggish public investment disbursement, delays in significant infrastructure projects, and the necessity for further business environment enhancements and administrative reforms. The administration remains focused on addressing these issues to sustain the country’s economic momentum.